News Summary: H&R Block posts wider 1Q loss

Published on NewsOK Modified: September 3, 2013 at 6:12 pm •  Published: September 3, 2013

BIGGER LOSS: H&R Block's loss in its fiscal first quarter grew 7 percent from a year earlier. The tax preparer booked higher operating expenses and other costs, offsetting a sharp rise in revenue.

THE NUMBERS: Block reported a loss of $115.2 million, or 42 cents per share, for the May-July quarter. That compares with a loss of $107.4 million, or 39 cents per share, last year. Revenue increased 32 percent to $127.2 million.

OUTLOOK: The company expects IRS filings to grow around 1 percent in 2014.